Encore Keep the Family Home and Create an Income Producing Asset

August 4, 2021
Hosted by Nancy Oriola, LCSW, CMC, NMG, CFP

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Episode Description

Seniors considering a move to a retirement community or families managing the care and finances for a loved one so often do not look beyond the option of selling the home that has been occupied for many years. The sale of a home brings with it tax consequences and the need to re-invest proceeds. This week we will be exploring keeping the home and using the home as an income producing asset that can supplement you or your loved ones cost of living or care needs. Concerned about the headache of managing a rental? Do not live nearby? I will be talking with a property management expert as well as a certified public accountant about the many benefits of considering this option. We will look at the tax consequences of selling now vs. setting up as a rental. We will also discuss the property management role, the team required and if hiring a property management group, how to find the best one to work with.

Aging Life Network

New Shows Available on VoiceAmerica Health and Wellness Channel

When families or friends are concerned about or trying to assist an aging loved one, they enter a world with a language of its own. Navigating the healthcare, legal, financial, medical and day-to-day care needs of a senior needing assistance is a significant task. Understanding that world and its language reduces stress and ensures that those we love live their best life, regardless of the current circumstance. We share the most accurate and up to date information available for those caring for loved ones. We talk with experts in the various disciplines related to aging such as doctors, lawyers, financial advisors, neuropsychologists, dementia behavior experts, home care and facility owners/managers, and Aging Life professionals. I also talk with authors of books about the experience of aging and caregiving, as well as those developing new technologies and experts in assisting families with the conflict that often arises under the stress of caring.

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Nancy Oriola, LCSW, CMC, NMG, CFP

I am a boomer in a sibling group of five who recently lost her second parent after a difficult illness at age 85. For more than 30 years I have advised others about the topics we will be addressing. I began my professional life as a Certified Financial Planner (1988) and worked for ten years as a financial advisor, focusing in the area of retirement. Following that I obtained a Master’s degree in Social Work and completed the work necessary to become a Licensed Clinical Social Worker. After working in a not-for-profit setting for a few years, in 2001 I started my own private elder care management and fiduciary company; managing both health care and finances for seniors.

I have worked with seniors and their families under court appointed guardianships and conservatorships, powers of attorney for both health and finances, as well as conducting assessments and consultations with families. I continue to develop and offer services to older adults, disabled adults and families through my fiduciary company called Decades, a health care management company called Aging Life, LLC and my most recent venture, Aging Life Network, Inc.

My goal with Aging Life Network is to offer the information described above and more importantly, to provide affordable access to live Aging Life Professionals, who through HIPAA compliant video conferencing and phone calls will speak with individuals and families about their unique situation, providing practical guidance and advice.

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Episode Directory

December 2021

August 2021

  • 8/25/2021: Encore Special Needs Trusts – Benefits & Planning Tool Listen Now
  • 8/18/2021: Learning, Memory & Brain Health Listen Now
  • 8/11/2021: Encore Aging in Place – Should you Consider a Reverse Mortgage? Listen Now
  • 8/4/2021: Encore Keep the Family Home and Create an Income Producing Asset Listen Now

July 2021

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